Noteholder Direction definition

Noteholder Direction has the meaning set forth in Section 7.6(a) of the Indenture.

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Noteholder Direction means any notice of Default, notice of acceleration or instruction to the Trustee to provide a notice of Default, notice of acceleration or take any other action.

Noteholder Direction has the meaning specified in Section 5.02.

Examples of Noteholder Direction in a sentence

• The Issuer agrees to waive in this Indenture any and all claims, in law and/or in equity, against the Trustee, and in this Indenture not to commence any legal proceeding against the Trustee in respect of, and agrees in this Indenture that the Trustee will not be liable for any action that the Trustee takes in accordance with this Section 6.02, or arising out of or in connection with following instructions or taking actions in accordance with a Noteholder Direction.

• In connection with the requisite percentages required under this section, the Trustee shall also treat all outstanding Notes equally irrespective of any Position Representation in determining whether the requisite percentage has been obtained with respect to the initial delivery of the Noteholder Direction.

• Following the completion of the voting process, the next Form 10-D filed by the Depositor will disclose whether or not a Noteholder Direction has occurred.

• If, following the delivery of a Noteholder Direction, but prior to acceleration of the Notes, the Issuer provides to the Trustee an Officer’s Certificate stating that a Directing Holder failed to satisfy its Verification Covenant, the cure period with respect to any Event of Default that resulted from the applicable Noteholder Direction shall be automatically stayed pending satisfaction of such Verification Covenant.

• In addition, each Directing Holder must, at the time of providing a Noteholder Direction, covenant to provide the Issuer with such other information as the Issuer may reasonably request from time to time in order to verify the accuracy of such H▇▇▇▇▇’s Position Representation within five Business Days of request therefor (a “Verification Covenant”).

More Definitions of Noteholder Direction

Noteholder Direction has the meaning specified in Section 5.01 of this Indenture.

Noteholder Direction has the meaning assigned to it in Section 6.02(d).

Noteholder Direction has the meaning specified in Section 502(c) of this Indenture.

Noteholder Direction has the meaning assigned to such term in Section 7.05.

Noteholder Direction means, in each case, a direction in writing by the holders of at least one-fifth of the Aggregate Nominal Amount of the Notes outstanding, or a direction by an Extraordinary Resolution of the Noteholders.

Noteholder Direction means, except as otherwise provided herein, (i) a direction by the Noteholders representing more than 50% of the aggregate unpaid principal amount of the Notes then outstanding represented at a meeting of the Noteholders called for the purpose of providing such direction in accordance with Article Eleven or (ii) a direction pursuant to a document or documents in writing signed by the Noteholders then outstanding in accordance with Section 11.15 hereof;

Noteholder Direction has the meaning set forth in Section 7.6(a) of the Indenture. A-17 Definitions (SDART 2023-2)